Dominion Power 2005 Annual Report Download - page 23

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Dominion 2005 21
Natural Gas
Transmission Pipelines
Natural Gas
Transmission Pipelines
(Partnership)
Natural Gas
Underground Storage Pools
Dominion Cove Point LNG Facility
Electric Transmission Lines
(Bulk delivery)
The Quinlan storage pool and TL-527 pipeline
in Southwestern New York, shown in black,
are expected to begin operations in April 2006.
Gas Transmission Pipelines Storage Electric Transmission Lines
As o ece ber
Virginia Fuel Cost Recovery Set For 2007
Under existing Virginia law, regulators are scheduled in
mid-2007 to adjust the amount of money we are legally
entitled to recover through customer bills to cover fuel costs
at Dominion Virginia Power. Virginia regulators have a long
history of equity and balance in fuel-recovery cases. Much
of the case involves an analytical process, which recognizes
existing and future commodity prices at the time.
Customers Have Benefited
While heating costs have soared recently for consumers in
many parts of the country, monthly bills for our electric
customers in Virginia have remained virtually unchanged. In
fact, the typical monthly bill for our Virginia residential
customers is just a few pennies higher than it was 12 years
ago. Adjusted for inflation, it’s more than 30 percent lower.
Optimistic Outlook 2007 through 2009:
Commodity Price Advantage, Three Growth Drivers
Looking to 2007, 2008 and 2009, we expect positive
results from rising energy prices. We’ll realize benefits at our
natural gas and oil production unit and at our merchant
power generating stations. For example, as the largest
power producer in New England, we expect to receive
higher prices for Millstone’s output and for the output of
our other stations in the region.
Also contributing to our improved earnings outlook are
three growth drivers that reflect the growing demand for
power and natural gas in our Northeast, mid-Atlantic and
Midwest markets.
•First, robust customer growth in Virginia and North
Carolina will continue to fuel higher electricity demand and
sales at our regulated electric utility. Our four-year average
annual growth in electric demand increased to almost